M3M expects Rs 5,000 cr in sales through 13-acre land acquired in Noida

Real estate firm will invest Rs 2,400 cr in mix-use project of housing, retail and service apartments

Real estate firm M3M has acquired 13 acres in Noida for Rs 827 crore in an auction, expecting to earn around Rs 5,000 crore with a mixed-use project on the land.

“We are entering the Noida market with an investment of Rs 2,400 crore in the project. We are targeting to commence this mix-use project, consisting of housing, retail and service apartments in the first quarter of 2023. This will also generate 10,000 direct jobs for people,” said Pankaj Bansal, Director, M3M India.

The firm will develop around 3 million sq ft, of which 40 per cent of the built